Blue Ridge Bankshares Posts $4.16 Million Third-Quarter Loss

Blue Ridge Bankshares posted a $4.164 million third-quarter loss as its provision for credit losses more than doubled from the prior quarter, with most loan charge-offs tied to one out-of-market borrower.

For the three months ended Sept. 30, 2026, the company recorded a loss of 5 cents per diluted common share. In the second quarter, it had a $1.295 million loss and a 1-cent diluted loss per share. A year earlier, it earned $5.603 million, or 6 cents per diluted share. The comparisons show the loss widened from the prior quarter and replaced the year-earlier profit.

Blue Ridge issued the unaudited results Oct. 26 at 5 p.m. ET (21:00 UTC). Its provision for credit losses was $8.45 million, compared with $4.05 million in the second quarter. The company’s 2026 provisions were primarily tied to loans associated with one out-of-market relationship originated before 2024.

Net loan charge-offs reached $10.3 million for the quarter. Of that amount, $9.9 million was tied to the out-of-market relationship, with about $1.5 million in associated loans remaining at Sept. 30.

“We further de-risked the balance sheet with a substantial charge-off on a legacy out-of-footprint relationship,” interim President and CEO Harry Golliday said.

Net interest income was $17.406 million, while noninterest income was $2.595 million. The two categories totaled $20.001 million combined and were listed separately. Net interest margin rose to 3.08% from 2.91% in the second quarter, but was below the 3.60% recorded in the third quarter of 2025.

Adjusted pre-tax earnings, a non-GAAP measure, were $5.281 million, up from $2.858 million in the second quarter. The adjusted figure increased even as the company recorded a net loss for the quarter.

Blue Ridge Bankshares and HomeTrust Bancshares announced a definitive merger agreement Aug. 17, 2026. The companies expect to complete the merger in early 2027 if shareholders and other required parties approve it.